ANOTHER freehold conservation bungalow in District 15 has been launched for sale, this time, at an asking price of S$63.6 million or S$2,000 per square foot (psf).
Marketed by OrangeTee & Tie, the property, at 760 Mountbatten Road, comes with a land size of 31,820 square feet (sq ft) – over 50 per cent larger than the one at 759 Mountbatten Road that was launched for sale just 3 weeks ago.
The 2 are part of 15 conservation bungalows in the Mountbatten Road Bungalow Conservation Area, and are across the road from each other, with the latter carrying a guide price of S$27 million or S$1,295 psf.
Originally built in the 1920s, 759 Mountbatten Road has a colonial Victorian style bungalow that sits on a 20,847.54 sq ft site. Today home to the 41-room Sing Hoe Hotel, it also has a rear annex building that was added in 1995 and 2 pavilions.
The latest one, at 760, sits at the corner of Mountbatten Road and Clacton Road on a squarish plot, with the 6,000 sq ft, 2-storey conservation bungalow tucked towards the back of the land.
The Business Times understands that there have been many enquiries for the property, which has not been occupied for over a decade.
A bungalow plot size of over 30,000 sq ft is rarely available in the market, which is likely why the asking price of 760 Mountbatten Road is significantly higher than that of 759 Mountbatten Road.
The location of the conservation bungalow at 1 corner of the plot also makes it easier for the buyer to divide the land into 2 or 3 lots or build a few houses on the site for an extended family’s own stay.
The sale via expression of interest for 760 Mountbatten Road will close on May 10.
Mountbatten Estate is 1 of 5 subzones in the Marine Parade area and is named after Lord Louis Mountbatten, who later became Earl Mountbatten of Burma, according to the Urban Redevelopment Authority.
What was a vast coconut plantation known as Grove Estate, used to stretch from the original shoreline towards the former Grove Road, which was renamed Mountbatten Road. Bungalows began to spring up in the estate when the wealthy set up homes in the area in the late 19th and early 20th centuries.
source: The Business Times